Answer
Yes, an Hindu Undivided Family (HUF) can apply for an Initial Public Offering (IPO) in India. They are Retail Individual Investors (RIIs)..
Common Requirements
- PAN Card in their own name (HUF’s name).
- A Demat account as HUF).
- RII Limit – up to ₹2,00,000.
- Apply through ASBA (Application Supported by Blocked Amount) method.
Rules for an HUF IPO Application
- PAN and Demat: Both the PAN card and the Demat account must be in the name of the HUF.
- Karta’s Role: The application must be initiated and handled by the Karta (the head/manager) of the HUF.
- Bank/UPI: The UPI ID or bank account used to block the application money must be linked to the HUF’s bank account.